03 Jun 2020

Wednesday 03 June 2020

Year 12 and 13 economics students spend a considerable amount of time learning about how and why recessions come about; as well as learning about policies to tackle them – all very relevant now that Covid-19 has conquered the world.

Marginal Utility 8 Cover

Economics students have seen countries use numerous tools available to them to try improve their situations – often to no avail.

Countries have been cutting interest rates to levels that have never been seen before. For example, the Bank of England cut interest rates to the lowest rate ever seen at 0.1%.

Countries have also been deploying more unconventional policies that would have never been considered 20 years ago such as quantitive easing which involves centrals banks buying bonds and other financial assets to expand the money supply.

It has become clear that the Covid-19 pandemic is a crisis like we have not seen before but with most crisis situations government intervention will be paramount.

The articles in this magazine, written by Year 13 economics students and teachers, provide an insight into the most relevant economics issues of the present day.

There is a particular emphasis on the economic impact of this global pandemic, from international aid to the economics of toilet paper hoarding.

Articles also explore the resource curse, and the department recommends some of their favourite economics books and podcasts. I would like to thank the students and teachers involved in producing this year’s edition of Marginal Utility.

Read our magazine here.

Hugo Gerbich Pais - Year 13, Averill